Ingevity Corp (NGVT) Given Consensus Rating of “Buy” by Analysts

Shares of Ingevity Corp (NYSE:NGVT) have received an average recommendation of “Buy” from the twelve ratings firms that are covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $100.25.

NGVT has been the topic of several research analyst reports. Buckingham Research raised their target price on shares of Ingevity from $92.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, July 26th. Zacks Investment Research downgraded shares of Ingevity from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 25th. KeyCorp raised their target price on shares of Ingevity from $95.00 to $110.00 and gave the stock an “overweight” rating in a report on Friday, July 27th. Berenberg Bank downgraded shares of Ingevity from a “buy” rating to a “hold” rating and set a $110.00 target price on the stock. in a report on Tuesday, October 2nd. Finally, Loop Capital set a $98.00 target price on shares of Ingevity and gave the stock a “hold” rating in a report on Thursday, August 16th.

Several institutional investors and hedge funds have recently modified their holdings of the company. Greenwood Capital Associates LLC grew its stake in shares of Ingevity by 12.6% during the 2nd quarter. Greenwood Capital Associates LLC now owns 4,609 shares of the company’s stock worth $373,000 after acquiring an additional 516 shares in the last quarter. State Board of Administration of Florida Retirement System grew its stake in shares of Ingevity by 2.1% in the second quarter. State Board of Administration of Florida Retirement System now owns 25,772 shares of the company’s stock valued at $2,084,000 after buying an additional 530 shares in the last quarter. First Midwest Bank Trust Division grew its stake in shares of Ingevity by 13.0% in the second quarter. First Midwest Bank Trust Division now owns 4,776 shares of the company’s stock valued at $386,000 after buying an additional 551 shares in the last quarter. Alps Advisors Inc. grew its stake in shares of Ingevity by 4.5% in the second quarter. Alps Advisors Inc. now owns 14,729 shares of the company’s stock valued at $1,191,000 after buying an additional 629 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY grew its stake in shares of Ingevity by 5.3% in the second quarter. Metropolitan Life Insurance Co. NY now owns 13,642 shares of the company’s stock valued at $1,103,000 after buying an additional 681 shares in the last quarter. 92.08% of the stock is owned by institutional investors.

Shares of NYSE:NGVT traded down $0.99 during mid-day trading on Friday, reaching $88.86. The stock had a trading volume of 318,229 shares, compared to its average volume of 232,845. The company has a market capitalization of $4.28 billion, a price-to-earnings ratio of 34.80, a P/E/G ratio of 2.28 and a beta of 1.22. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.58 and a quick ratio of 1.48. Ingevity has a twelve month low of $66.57 and a twelve month high of $106.59.

Ingevity (NYSE:NGVT) last announced its quarterly earnings results on Wednesday, July 25th. The company reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.13. The business had revenue of $308.60 million for the quarter, compared to the consensus estimate of $305.14 million. Ingevity had a net margin of 14.72% and a return on equity of 46.65%. Ingevity’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same period last year, the company posted $0.78 EPS. Equities research analysts expect that Ingevity will post 3.72 earnings per share for the current year.

About Ingevity

Ingevity Corporation manufactures and sells specialty chemicals and carbon materials in the United States and internationally. The company operates through two segments, Performance Materials and Performance Chemicals. The Performance Materials segment engineers, manufactures, and sells wood-based chemically activated carbon products primarily for gasoline vapor emission control systems.

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Analyst Recommendations for Ingevity (NYSE:NGVT)

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